Students can be highly lucrative tenants. They’re often happy to live in HMO properties, which gives you the chance to increase your overall rental yield; and generally speaking, they don’t expect high-end accommodation.
However, don’t make the mistake of believing that they’ll put up with any style of digs. Fail to appeal to your student market, and you could potentially lose valuable tenants.
Here’s a helpful guide, detailing the type of features students look for in rented property – and how to ensure you maintain a steady stream of tenants for your buy-to-let house.
Property Investment Opportunities – How to Appeal to Students
- Proximity to university buildings. When looking at buy-to-let property for sale, always prioritise location above everything else. Students want accommodation that is either within walking distance of their lectures, or failing that, close to convenient transport links.
- Local amenities. Students also value proximity to amenities; such as shops, restaurants, pubs, sports centres and football grounds. Examine what’s in the surrounding area before purchasing, and ascertain how appealing it’ll be to your target market.
- Wi-Fi. It goes without saying that your property should be fully connected. However, it’s not enough to just offer internet connection. Your broadband speeds should be as fast as possible, as your tenants will rely on the internet heavily for their studies.
- Outdoor space. Students are attracted to outdoor space, as it provides an area for them to relax with friends. However, this doesn’t necessarily have to be a garden. Even a balcony or terrace area can be used as a place for socialising, and will boost the appeal of your property.
- Technology. If you really want to make a good impression on students, invest in technology! A Sky box or a games console is a welcome addition to the house, and can sway their decision when they’re choosing where to live.
- Desks. Think about how your tenants will be using the space in the property. The likelihood is that they’ll want desks in their bedrooms, so they can work in the privacy of their own space, rather than in the communal living area.
- Cleanliness. Students won’t generally object to smaller bedrooms, but they will object if the house is dirty, or shows obvious signs of considerable wear and tear. As a landlord, it’s your responsibility to provide them with a property that is hygienic and comfortable to live in. Failure to do so means they’ll probably look elsewhere for accommodation.
The Buy2Let Shop Limited
If you’re looking for student buy-to-let property for sale, and are seeking advice, talk to The Buy2Let Shop team. We’re property investment agents with specialist knowledge of this lucrative market, and we can help you find the right property for your requirements.
We also offer help with buying a house at auction, and regularly host property investment seminars, to extend your knowledge of the market and empower your purchase. If you’d like to find out more about our services, simply visit The Buy2Let Shop’s website today.